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Karl Stefanovic and and his ex-wife Cassandra Thorburn are set to put their $8 million Cremorne mansion on the market.

The former couple bought the site where the luxurious home now stands in September 2016 for $8 million. They committed to the purchase after paying an $800,000 deposit on the plot.

Developer Tony Blanche spent 18 months rebuilding the property into a three-level, five-bedroom mansion with four bathrooms, two kitchens, a swimming pool, steam room and wine cellar. The property spans 650sqm and boasts views across Middle Harbour in one of Sydney's most elite harbour suburbs.